Phoenix Spree D Share Price (PSDL)

...after Russia invades Europe.

Someone panicking?

A revised management contract was agreed for 12 months in June 2023.And what have the Property Advisers achieved in that time? Sweet FA.

Surely,they should be chucked out? Do the Board have the guts to do that? Surely they should be interviewing alternative candidates ? Or are they all in it together to hide their mutual inadequacies and protecting their fee stream and the existing contract will just be rolled over.The Biard has a fiduciary duty to shareholders.Lets be seeing it.

Shareholders deserve better.

As if by magic…..

And who believes that falling out of the EPRA index is the only reason for a 30% share fall?

Might it be because shareholders consider the Board is lazy and inept? Or that the Managers and Directors are just lining their pockets without providing adequate value to shareholders.If the Board had any backbone they would change the managers at the next opportunity.If Institutional shareholders had any joint imagination they would get the whole business sold at one go.The Board and current advisers are highly unlikely to go down an immediate full business sale route as it will cut off their fees.In theory,the primary duty of care of the Directors is to shareholders.One wonders if the current mob understand their legal responsibilities.

Share price is down 30% in last month.What do we hear from the Board and its advisers.Sweet FA.Maybe soon we will get an excited announcement that they have sold a flat.Cannot believe that Insitutional Investors have not demanded change to make these useless folks earn their money.

... is a tricky business! I thought we were near there last week, when I bought in at 155p. The Update of 07/02/24 didn't read too bad to me - a 'strong' rental market and signs of a 'recovery' in the investment market, we were told. Yet here we are 2 weeks later with the share price down another 13%.... in fact now even below the dark days of 2015 when PSDL was in its infancy. I am really surprised.

But then this isn't the only over-indebted specialist investment trust getting punished lately. We are being discouraged from investing in anything which isn't large, plain vanilla & with lots of cash. What a bl**dy market!